File No. 893.51/2060
The Minister in China ( Reinsch) to the Secretary of State
Minister of Finance has extended the currency loan option but On condition that negotiations be taken up without delay. The representatives of the British and French groups urge upon me absolute necessity of immediately sending an American representative to participate [Page 161] in the negotiations as it will be embarrassing to them to delay action; and on the other hand the initial questions on which basic arrangements will be discussed will be the most important. Even if complete arrangements for international financing have not been made it is essential to the proper conduct of affairs here that an American representative be sent immediately for this particular purpose. Other matters could still be under discussion pending the adoption of complete plans.